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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Hyundai Motor Co    005380   KR7005380001

HYUNDAI MOTOR CO

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Hyundai Motor : Researcher wins Hyundai invention award for impact-absorbing tech

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05/21/2019 | 11:06am EDT

By Nam Hyun-woo Hyundai Motor senior researcher Kim Do-hee has won the grand prize at the 10th Hyundai Motor, Kia Motors 'The Changer' Invention Day Awards for coming up with a vehicle structure that can absorb the impact from a collision, according to Hyundai Motor Group, Monday. The awards ceremony is an annual event to encourage the group's researchers to suggest new ideas for vehicles.

Since the first event in 2010, a total of 17,500 patents have been applied for, the group said. This year's event involved more than 3,000 competing ideas.

For six finalists, the group held an awards ceremony on Friday at its lab in Hwaseong, Gyeonggi Province. Of them, Kim presented a new body structure for compact and midsize cars, which maximizes the car body's ability to cushion the impact from a collision.

'Small and midsize cars have relatively less space for absorbing impact, compared to larger ones,' Kim said. 'The new body places a fender apron in the front of the body and adopts a new A-Pillar structure so that it can absorb collision energy.

This optimizes a car's movement under harsh conditions, such as small overlap crash tests.' Along with Kim, five others also won prizes with their ideas such as new oil pressure logic, noise suppressing technology and assessment of driver's and passengers' condition by checking biometric signals with the car's sensors.

For his idea, Kim received 5 million won ($4,193) in prize money. Two runners-up each received 2 million won and three commendation award winners earned 1 million won.

Should Kim's and others' ideas be commercialized, the group will compensate them by paying them up to 1 billion won. The group paid a total 34 million won to last year's awardees who developed thermoelectric technology raising a vehicle's energy efficiency and communication technology using Ethernet.

'The event has served as the technological basis of Hyundai Motor and Kia Motors' Ramp;D activities for the past 10 years,' a group official said. 'The group will continue motivate researchers to come up with creative ideas and apply them to future vehicles.

' .

(c) 2019 Korea Times Co. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI MOTOR CO End-of-day quote.
KIA MOTORS CORPORATION End-of-day quote.
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Financials (KRW)
Sales 2019 101 731 B
EBIT 2019 3 883 B
Net income 2019 3 555 B
Debt 2019 52 714 B
Yield 2019 3,02%
P/E ratio 2019 9,92
P/E ratio 2020 8,68
EV / Sales 2019 0,86x
EV / Sales 2020 0,84x
Capitalization 35 216 B
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Average target price 155 760  KRW
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Mong-Koo Chung Chairman & Co-Chief Executive Officer
Won-Hui Lee Co-President, Co-CEO & Director
Gab-Han Yoon Co-President, Co-CEO & Director
Byeong-Cheol Choi Chief Financial Officer
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
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